Dr. Rick Harper

 

The Federal Reserve met this week and decided once again not to raise interest rates, but the effect of that decision to do nothing is still making waves in the larger economy.

  In this week’s Economic Report, Dr. Rick Harper talks about the changes in overtime pay rules, the latest unemployment numbers and the prospect of the Federal Reserve’s next interest rate increase.

New federal regulations have nearly doubled the the amount of overtime pay employees are eligible to receive. Harper said the rules are drastic, in part, because they are cumulative.

 

In this week’s Economic Report, Dr. Rick Harper discusses record numbers of visitors in the first quarter of 2016 and the direct effect on Florida’s tourism job numbers.

 

Florida’s tourism business is booming. A report released by the governor’s office this week said that 29.8 million visitors came to the state in the first quarter of 2016, an increase of 4.8 percent over the same period last year.

 

In this week’s Economic Report, Dr. Rick Harper discusses underperforming job numbers and where job growth is – and isn’t – in Northwest Florida.

The Automatic Data Processing Inc. Research Institute latest monthly report, released Wednesday, showed that while job creation was still occurring in April, it was at a slower pace than expected.

In this week’s Economic Report, Dr. Rick Harper talks about the first quarter Gross Domestic Product report, the Federal Reserve’s decision to hold interest rates, and growth in both Navarre Beach and downtown Pensacola.

 

The GDP report was released this week and reports that the U.S. economy’s annual growth slowed to just 0.5 percent in the first three months of 2016.

 

“It’s disappointing,” Harper said. “Half a percent is not in the range we’d like to see.”

 

In this week’s Economic Report, Dr. Rick Harper discusses the UWF Student Scholar Symposium and Faculty Research Showcase that took place at the University’s Field House on Thursday and featured “scholarly and creative works produced through collaboration between UWF students and faculty.”

In this week’s Economic Report, Dr. Rick Harper discusses the Panama Papers scandal and tax inversion,the rise in service sector jobs and why economic growth isn’t benefiting everyone in our area.

The Panama Papers scandal, in which a leak revealed that many world leaders are storing their wealth in secret offshore accounts to avoid taxes, was big news this week, but what does it mean for the world economy? In Harper’s view, not much in the short term.

 

  In this week’s economic report, Dr. Rick Harper discusses the Commerce Department’s revised Gross Domestic Product report and good news about job growth for Florida.

 

The Commerce Department released their revised GDP report for the fourth quarter of 2015 this week and it beat expectations, surprising many.

 

“It came in at 1.4 percent growth and while that’s not a great growth rate – we would rather see growth at 2, 3 or even more percent per year, it was better than expected,” Harper said. 

 

In this week’s economic report, Dr. Rick Harper discusses the Federal Reserve holding fast on interest rates, how the Consumer Price Index is standing, an increase in housing starts and what the renewal of the Economic Development Ad Valorem Tax Exemption means for our community.

The Federal Reserve held interest rates recently and Harper expects this to be the pattern for the rest of this year.

In this week’s economic report, Dr. Rick Harper discusses what local projects were vetoed by the Governor in Florida’s budget and what improvements could mean for the Port of Pensacola.

The largest state budget in Florida’s history – over $82.3 billion – has been signed by Gov. Rick Scott, but only after a veto of $256 million dollars of state projects.

In this week’s economic report, Dr. Rick Harper discusses what’s is (and isn’t) in Florida’s 2016-17 budget. He also discusses the continued development of downtown Pensacola.

As the legislative session winds down for this year, lawmakers will be voting on proposed $82.3 billion state budget. How does this budget reflect the state of Florida’s economy?

WUWF Public Media

In this week’s economic report, Dr. Rick Harper discusses unexpected national job growth, movement toward building in the downtown technology park and the fight in the Legislature over BP oil spill recovery settlement funds.

The ADP Research Institute issued its monthly National Employment Report this week and noted that businesses added more jobs than expected last month.

“The ADP report came in surprisingly strong,” Harper said. “The consensus forecast had been for 190,000 net new jobs reported by ADP, but it actually came in at 214,000, about 10 percent above.”

In this week’s economic report, Dr. Rick Harper discusses the effect two recent devastating tornadoes in Escambia County could have on the local economy and rental housing market.

A tornado cut a swath of damage through the town of Century last week. Then on Tuesday night, another tornado plowed through Pensacola. That later storm destroyed a number of dwellings, including three buildings containing 24 units at the Moorings Apartment complex on Old Spanish Trail.

WUWF Public Media

 

In this week’s Economic Report, Dr. Rick Harper discusses testimony by Federal Reserve Chair Janet Yellen on the state of the economy before the House of Representatives, the African-American job gap and how job growth has slowed locally.

 

Not surprisingly, Yellen, who spoke on Feb. 10, had to answer partisan economic questions from both sides of the aisle in this election year, according to Harper.

 

WUWF Public Media

 

In this week’s Economic Report, Dr. Rick Harper discusses a recent column by Haas Center Director Zach Jenkins, which looks at affordable housing for low-income families and what factors are affecting the rise in the cost of renting versus buying.

 

Harper said the issue is something the Haas Center has been following for quite some time and that Jenkins’ piece focuses on families who rent – and the findings are discouraging.

 

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